Blog: Complex Cognac sales made simple with reindeer
Andy Morton | 8 November 2013
There are not many things that will stop an interview quicker than asking the head of a Cognac house what his - or her - stock situation is. That's what I've learned, anyway, after talking to two of them recently.
Stocks are the Cognac industry's most closely-guarded secret, with executives more likely to divulge their online banking passwords than confess to how much eau de vie they hold. As Hine head François Le Grelle told me in Cannes last month: “If you have the (stock) profile then you can read the future of the company.”
All of which makes the purchase of a Cognac house an interesting prospect, as the buyer, initially, can only guess at what he's stumping up for. Once exclusivity agreements are reached, inventory information can be disclosed and, as Le Grelle says, there has to be some level of trust between the two parties, which means there is no nasty surprises when the warehouse doors are finally unlocked.
But still, it's a complex process.
The CEO of Altia Corp, which bought Larsen Cognac in September, tried to simplify the situation for me this week with a bit of home-spun wisdom from his native Finland. “In Lapland,” Antti Pankakoski said, “if you ask someone how many reindeer they have, they will reply, how much money do you have in the bank?”
So, bear that in mind when you're next at the bargaining point in western France.
Last year was tough for The Coca-Cola Co. So staff in Atlanta won't be pleased to read that Pepsi has overtaken Diet Coke as the no. 2 soda brand in the US. ...
A bit of football fun for a Friday. Anheuser-Busch InBev has released the ad that will accompany its new Budweiser 'Dream Goal' campaign, that seeks to find the UK's best amateur goal. ...
No sooner had Anheuser-Busch InBev taken a gentle pop at the craft beer segment during February's Super Bowl, than the world's largest brewer has challenged the sub-category's target market in New Yor...
Kirin Holdings is to spend US$8.4m on a new bottling plant for its Four Roses Bourbon, according to reports. ...
A few wry grins will have been raised in the offices of Dr Pepper Snapple Group today. ...
- Diageo's Labels Give Industry Something to Digest
- Comment - 'Craft' and the Danger of 'Romance Copy'
- Is A-B InBev/SABMiller 'Mega-Merger' Off?
- Comment - Diageo Spins the Guinness Wheel... Again
- Pernod takes positives from China Cognac bounce
- Craft is an 'abused' term - Pernod Ricard exec
- SPI Group 'disappointed' over Stolichnaya ruling
- Diageo lines up UK innovations push
- Kraft Foods agrees Heinz merger
- Chilli targets beer with Rekorderlig Dry Apple
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Beer Market Insights Africa 2014
- Champagne: Less Than Bubbly